Aside from being a vital revenue source, the tax will also raise the demand for local produce — MOF

SST also covers 70 per cent of the economic services compared to GST’s 76 per cent, says MOF

By Danial Dzulkifly SHAH ALAM, June 23 — With the expanded Sales and Service Tax (SST) set to take effect next month, consumer groups are calling on the government to zero-rate essential services, expand the Budi Madani cash aid programme, and introduce a national price transparency framework to...

SINGAPORE, June 17 — Three Malaysian men have been arrested for suspected evasion of SG$812,384 (RM2.64 million) in cigarette duty and Goods and Services Tax (GST) following an enforcement operation at Gul Drive.

LUMUT, June 15 — The government is not ready to reintroduce the Goods and Services Tax (GST) as it would affect all segments of society, particularly the poor, said Datuk Seri Anwar Ibrahim.

KUALA LUMPUR, Feb 18 — Tourist arrivals in Langkawi post-Covid-19 showed an increase of 323,115 people, or 11 per cent, from 2022 to 2024, according to data from the Ministry of Finance (MOF).

KUALA LUMPUR, July 19 — The government will continue fiscal reform initiatives, including drawing up the Medium Term Revenue Strategy (MTRS), said the Finance Ministry (MOF).

KUALA LUMPUR, March 15 — On March 1, Malaysia’s revised service tax came into effect, rising from six per cent to eight percent.

KUALA LUMPUR, March 4 — The government will prioritise improving the current tax system before assessing the need to reintroduce new tax such as the Goods and Services Tax (GST), said Finance Minister II Datuk Seri Amir Hamzah Azizan.

KUALA LUMPUR, Feb 28 — Over 80 per cent of domestic users whose monthly electricity consumption is 600 kilowatts per hour (kWh) and below will continue to enjoy zero service tax on their power bills, says Treasury Secretary-General Datuk Johan Mahmood Merican.

KUALA LUMPUR, Feb 12 — Malaysia is one of the lowest tax revenue collectors in Southeast Asia, with a tax-to-gross domestic product (GDP) ratio of 11.8 per cent.

KUALA LUMPUR, Nov 28 — The government has no plans to implement the Goods and Services Tax (GST) next year because it wants to focus on targeted subsidies first, said Deputy Finance Minister I Datuk Seri Ahmad Maslan.

KUALA LUMPUR, Nov 27 — The government is now looking at further narrowing its fiscal deficit, which eased to 5.6 per cent last year after hitting 6.4 per cent in 2021, amid a much-needed pandemic-induced spending to boost the economy and safeguard Malaysian’s livelihood at large.

KUALA LUMPUR, Nov 23 — Any new additional pre-retirement withdrawals, whether targeted or open, will further exacerbate the issue of insufficient retirement savings, which is currently at a very alarming level, said the Finance Ministry.

KUALA LUMPUR, Oct 26 — The electronic invoicing system (e-invoicing) implementation will bode well should the government opt to reinstate the Goods and Services Tax (GST).

KUALA LUMPUR, Oct 26 —The implementation of the electronic invoicing system (e-invoicing) will bode well should the government opt to reinstate the Goods and Services Tax (GST), and simultaneously, assist it in achieving its 2024 tax collection target of RM185 billion, said Inland Revenue Board (IRB) chief executive officer Datuk Seri Mohd Nizom Sairi.

KUALA LUMPUR, Oct 17 — The government has created the tax identification number (TIN) and e-invoice to overcome revenue leakage and reduce Malaysia's shadow economy's size.

KUALA LUMPUR, Oct 17 — BMI Country Risk & Industry Research (BMI) has retained its forecast for Malaysia’s budget deficit as a share of gross domestic products (GDP) to fall from 4.9 per cent in 2023 to 4.3 per cent in 2024, in line with the government’s fiscal projections.

KUALA LUMPUR, Oct 13 — The choice between the Sales and Service Tax (SST) and the Goods and Services Tax (GST) hinges on Malaysia's economic goals, administrative capabilities, and the need to achieve an optimal balance between revenue generation and the promotion of fairness and equity among the rakyat, said the Finance Ministry (MoF).

KUALA LUMPUR, Oct 10 — Government tax refunds increased by 17.8 per cent to RM25.72 billion in 2022 compared to RM21.84 billion in 2021, according to the Auditor-General's Report (LKAN) 2022.